News Releases

Coveo Announces Record Growth in 2014

Crosses the 1,000th Enterprise Activation Mark of its Enterprise Search Technology with New Customer Sonus Networks in Q4 2014

San Mateo, CA, and Quebec City, CA - February 11, 2015

Coveo
today announced accelerated growth in 2014 via strong demand for its enterprise
search-based applications that help employees upskill as they work, and driven
in large part by its continued strategic partnerships with leading organizations
such as Salesforce. The year was also marked by the best quarter in the history
of the company and the 1,000th enterprise activation of its
software, with new customer Sonus Networks.

In the fourth quarter of 2014, Coveo recorded the highest
number of customer transactions in a single quarter, nearly three times that of
the same prior-year quarter, and the highest quarterly revenue bookings in
company history, while maintaining a 93 percent renewal rate.

“The fourth quarter of 2014 was the best quarter in Coveo’s
history for both new customers and revenue bookings and we’re very excited to
have reached the 1,000-enterprise activation mark,” said Louis Tetu, chairman
and CEO of Coveo. “Based on market adoption of cloud-based enterprise search
solutions, particularly within customer service, and to help all employees
upskill as they work, we’re expecting 2015 to be another record year for Coveo.
It is fitting that our thousandth activation with Sonus exemplifies this type
of application: using Coveo for Salesforce Service Cloud and Communities
Editions to bring together cloud and on-premise data via a cloud index.”

1,000th Enterprise
Activation

Sonus Networks, a global leader in bringing intelligence and
security to real-time communications, became the 1000th enterprise
activation of Coveo’s Advanced Enterprise Search technology in Q4 2014. Thanks
to a rapidly growing customer base, the company realized it needed to empower
its service agents and customer community members with an enterprise search
solution to meet the expected increase in customer service inquiries. The
company activated Coveo for Salesforce – Service Cloud and Communities Editions to provide support agents, sales representatives, partners and
customers with proactive insights into customer, product and solution
information unified from across multiple sources, including Salesforce,
Atlassian Confluence, multiple databases and SharePoint. Injecting highly
relevant knowledge and experts into the context of Sonus service agents, sales
reps and customers at the point of interaction is expected to improve call
resolution times, increase call deflection rates and customer satisfaction, as
well as facilitate sales success.

“We’re happy to be the 1,000th enterprise
activation of Coveo technology,” said Bill Scudder, CIO, Sonus Networks. “In
the technology world, it’s all about scalability and Coveo is clearly scaling
quickly with these numbers. At this point in our company’s growth, we’ve
transformed our business from serving the world’s largest phone carriers to
selling through channels and on to thousands of businesses, so our case volume
is growing exponentially as we scale. Coveo for Salesforce Service Cloud and
Communities will help Sonus scale our operations as our business scales, while
reducing overhead costs and at the same time increasing the satisfaction of our
customers.”

“Sonus is focused on helping our customers enable intelligent
and secure communications via the cloud,” Scudder said. “With the
transformation of our business, we want to ensure our customers’ continued
growth and success, with tools that can transform how we work and how we help
our customers solve their own complex challenges. Security is paramount to
Sonus, and Coveo is the only advanced search app we could find that could securely index Confluence directly
within Salesforce, and coupled with the single sign-on tool, Service Rocket, is
a complete solution that will help Sonus customers significantly increase their
ability to solve their own challenges, which is their preference. It will also
help our service agents solve the most complex cases faster and with proactive
insights.”

Company Growth

2014 represented significant corporate growth for Coveo as
it continues to expand its business globally and grow its cloud infrastructure
and offerings:

Grew subscription bookings by more than 300 percent
as the company continued to expand its cloud-based applications, in addition to
maintaining its license business in-line with the year prior.

Customers documented significant achievements with
Coveo technology, among them a Fortune 50 healthcare company that upskilled its customer support team, reducing
time to proficiency from two years to two months.

“We are very pleased with Coveo’s growth and momentum,
particularly the exciting growth in the cloud applications,” said Trident
Capital Managing Director J. Alberto Yépez, a Coveo board member and
investor. “2014 was a year of significant growth and market recognition of
Coveo’s important ability to bring diverse and relevant content into the user’s
context, as evidenced by its being named the most innovative leader in the 2014
Gartner Magic Quadrant for Enterprise Search.”

Product
Advancements

Coveo continued to evolve its existing product
offerings with new enhancements to the Coveo for Salesforce applications, new cloud analytics, even more
connectivity and relevance across its platform, and the debut of a new, free application
in its Coveo for Sitecore business.

The Coveo for Salesforce applications contributed
to the company’s growth in subscription bookings by enabling a knowledge
revolution within Salesforce Service Cloud and Communities. Coveo for
Salesforce automatically brings contextually relevant information from across
the enterprise and presents it to users within Salesforce via an advanced
enterprise search solution, the benefits of which for service agents and
customers we detail in this infographic: http://bit.ly/1yfJ85X

The Coveo for Salesforce applications were enhanced throughout 2014 with a series of new
capabilities that enhanced both the Service Cloud and Community Editions’
ability to consolidate information from third-party data sources, including:

The Atlassian Confluence and Web Pages Connectors
are now supported in the cloud, allowing Coveo for Salesforce users to index
and consolidate customer information from these data sources and make them
available to customer service agents and customers via the Salesforce Service
Cloud and Salesforce Community interfaces. These are in addition to 11
connectors available via one-click access in the Coveo for Salesforce admin
interface.

Improved indexing configuration capabilities

Enhanced relevance tuning

An enhanced user interface for mobile devices that
provides a device-agnostic experience across most mobile devices.

In an industry-first, the company launched Coveo for Sitecore – Free Edition
to empower Sitecore partners and customers with an enterprise-caliber website
search solution that’s fully integrated with the Sitecore Experience Platform.
The new offering allows marketers to configure and tune search relevance from
within the Sitecore console and provides a JavaScript & HTML UI to enable
Sitecore developers and partners to build fully customized search pages using the
Coveo framework and toolkit. Since its launch in September 2014, Coveo for
Sitecore – Free Edition has been downloaded hundreds of times by Sitecore
partners and customers worldwide.
“Search plays an essential role in the customer
experience,” said Darren Guarnaccia, Chief Strategy Officer of Sitecore. “Now a
best-in-class, fully integrated solution is available free for all Sitecore
developers and customers.”

Coveo expanded its Enterprise Search &
Relevance Platform’s ability to securely index and consolidate information from
third-party sources with the addition of several new connectors, including:

Microsoft Dynamics CRM

Oracle Knowledge

Lithium

PTC Windchill

RSS

Dropbox

YouTube

Coveo also continued to enhance the market-leading
transparency of its relevance engine, enabling administrators to more easily
tune and rank relevance of results across the entire ecosystem of record.

Partners and Developers

Coveo expanded and deepened its strategic partnerships with new service
offerings and additional partnerships with system integrators (SIs) in 2014. In
support of its expanded partner and developer program, Coveo also launched
several new resources for these communities. In 2014, Coveo:

Signed agreements with more than 30 new SI partners

Launched a new developer community where Coveo
developers and its customer and partner developers share best practices and
have questions addressed by experts. The community has driven more than 50 percent
self-service on support while enhancing
customer satisfaction

Launched a new partner portal, which provides partners
and system integrators with official product documentation and sales and
marketing collateral, including co-marketing programs.

About Coveo

Recognized as the Most Visionary Leader in Enterprise Search by Gartner, Coveo transforms the
world of work for millions of people across more than 1000 enterprise
activations in 35 countries. Coveo's highly advanced enterprise search technology adds the value of rich content and insights to CRM, customer service applications, intranets and websites. Coveo securely connects with most legacy and cloud systems, consolidates organizations’ full ecosystems of record in real-time through secure, unified indexes, and provides unified search, dynamic 360-degree views of information, and contextual, proactive recommendations of relevant content and experts using powerful analytics.